The central bank's monetary-policy committee, led by Powell, raised rates by 0.25 percentage point to a range between 2% and 2.25%, according to a statement Wednesday. In a subtle shift, the panel did not characterize monetary policy as "accommodative," as it had in recent communications.

"The committee expects that further gradual increases in the target range for the federal funds rate will be consistent with sustained expansion of economic activity, strong labor market conditions and inflation" around 2%, according to the statement. "Risks to the economic outlook appear roughly balanced."

The Fed, which cut rates to near zero in the wake of the financial crisis a decade ago, in a bid to stimulate the economy, has been raising them since late 2015 as growth recovered. Trump's $1.5 trillion of tax cuts in December have pushed already-minimal unemployment down even further, most recently to 3.9%, close to an 18-year low.

Most traders and economists predict the Fed will hike rates by another 0.25 percentage-point in December, though they're divided on the likely number of additional increases coming next year.

Fox Admits Defeat Over Sky

Boo, hoo.

After losing out to Comcast in a bid war over the weekend, Fox admitted defeat.

21st Century Fox (FOXA - Get Report) said Wednesday that it will sell its 39% stake in Britain's Sky plc to Comcast Corp. (CMCSA - Get Report) , ending one of the longest takeover battles in U.K. history and handing control of Europe's biggest pay-TV group to America's biggest cable company.

Comcast shares were marked around 0.35% higher in New York Wednesday and changing hand at $35.54 each while Sky shares traded at £17.26 each by late afternoon in London, a move that extends their year-to-date gain to 72.4% and some 80% since the Fox made its first approach to buy the whole of the broadcaster in December 2016. Disney shares edged 1.08% higher to trade at $114.85 following news of the sale.

Comcast CEO Brian Roberts called Sky a "wonderful company with a great platform, tremendous brand, and accomplished management team" and said the acquisition would allow the Philadelphia-based group to "quickly, efficiently and meaningfully increase our customer base and expand internationally."

TheStreet'sAction Alerts Plus team has argued that Comcast has scored a major victory in besting its rival for a key European asset critical to its overseas expansion.

Now, soccer fans, let's just hope the coverage stays the same -- am I right? Don't want to miss out on my Chelsea games.